Generally, the earlier the better. Premiums are lower when you’re younger and healthier. Many people take out a policy when they get a mortgage, get married, or have children. In other words, life events that increase financial responsibility.

Often, yes; however, it may be more expensive or subject to exclusions. Some conditions are excluded from cover entirely, while others simply result in higher premiums. Different insurers assess risk differently, so if you do have a pre-existing condition we’ll always place you with the insurer that deals with that condition the best.

Yes, they do, an it’s an extremely common misconception that they don’t. For instance, in 2024 Liverpool Victoria paid out on 97% of claims, mounting to £80m+, supporting 5,263 families. 

The payout itself is generally free of income tax and capital gains tax. However, if the policy is not written in trust, the proceeds may form part of your estate and be subject to inheritance tax. Writing your policy in trust (which we are able to do for you) can avoid this and also means the payout bypasses probate, reaching your beneficiaries faster.

Yes, you absolutely should. Your needs change over time. For example, your mortgage reduces, your children grow up, and your income may fall or rise. A policy that was right for you ten years ago may no longer reflect your circumstances now. As such, it’s worth reviewing your cover every few years or after any major life event takes place.